Stock Market & Financial Investment News

Duke Energy reaches settlement agreement with NCUC, NC Public StaffDuke Energy announced that it has filed a settlement agreement with the North Carolina Utilities Commission, or NCUC. This agreement was reached between Duke Energy, the staff of the NCUC and the North Carolina Public Staff. Following approval, the agreement would resolve all issues related to the matters under review by the NCUC regarding Duke Energy's change in president and CEO following the close of the merger between Duke Energy and Progress Energy on July 2. The parties agreed that the settlement agreement does not constitute and should not be construed as an admission or acknowledgement of any illegal or improper acts by Duke Energy. The current general counsel as well as the company's executive vice president, regulated utilities, will assume new leadership roles to be announced following the NCUC's approval of the settlement agreement. Duke Energy will provide proportional fuel, fuel-related, workforce and low-income assistance financial benefits to its South Carolina customers. These are in addition to and consistent with recent merger-related commitments to customers in the state and are expected to total between $8M and $9M.

Duke Energy Renewables acquires 20MW Shawboro solar project in North CarolinaDuke Energy Renewables announced it has acquired a 20-megawatt AC solar power project in Shawboro, N.C., from Ecoplexus, lead developer of the project. The energy generated from the facility is enough to power about 4,000 homes and will be sold to Dominion NC Power through a 15-year agreement. Swinerton Renewable Energy will build the facility and is expected to employ more than 90 percent local workers during construction. The project is targeted for completion by year end.